Mixed-Use Property with
For Sale
$475,000
Pending
1742 Fairport Nine Mile Point Rd, Penfield, NY 14526
Zone B property combines residential space, an in-law apartment, garages, and a rear workshop with multiple potential uses.
Property Size1,619 SF
Days on Market56
Property Features for 1742 Fairport Nine Mile Point Rd
General Information
Standard status
Pending
Size
1,619 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,375
Building Details
Building Size
1,619 SF
Year Built
1985
Stories
1
Units
1
Listing Agency:
Cornerstone Realty Associates
Listed By:
Paula Priest · License #10301210525
(585) 370-1725
Source:
Elliman
Added: Sep 11
Changed: Oct 30
Last Checked: Nov 4 at 1:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cornerstone Realty Associates
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 1742 Fairport Nine Mile Point Rd in Penfield, this mixed-use property was built in 1985 and is currently configured as a residence with an in-law apartment in the lower level. Zone B permits residential and non-residential uses, including 2-, 3-, and 4-family housing, townhouses, limited offices, medical offices, insurance, massage, art gallery, and hair stylist uses; specific approvals should be confirmed with the town.
The property includes a rear workshop sized for 2+ cars with a compressor, wood heat, water, and 100-amp service. An attached 2+ car garage has a 220-electric panel. Additional improvements include a new roof, gutters with leaf guards, comfort windows, and solar panels on the south side. The rear area includes 2 acres described as country, with the town indicating that the property behind this one will remain country.
The property includes a rear workshop sized for 2+ cars with a compressor, wood heat, water, and 100-amp service. An attached 2+ car garage has a 220-electric panel. Additional improvements include a new roof, gutters with leaf guards, comfort windows, and solar panels on the south side. The rear area includes 2 acres described as country, with the town indicating that the property behind this one will remain country.
Key Highlights
- Zone B permits residential and non‑residential uses, subject to town confirmation
- In‑law apartment located in the lower level
- Rear workshop for 2+ cars with compressor, wood heat, water, and 100 amp service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,482
Cap Rate
3.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$309,640
$309.6K
Cap Rate 7%
$221,171
$221.2K
Cap Rate 9%
$172,022
$172.0K
Market Conditions
NOI Build-Up for 1,619 SF
Gross rent
$29.1K $18.00/SF
− Vacancy
−$4.4K −$2.70/SF
EGI
$24.8K $15.30/SF
− OpEx
−$9.3K −$5.74/SF
NOI
$15.5K $9.56/SF
Area
Monroe County, NY
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$309,640
Cap Rate 7%
$221,171
Cap Rate 9%
$172,022
Alternative Uses
Best Use
Mixed Use
$221.2K
$193.5K – $258.0K
NOI $15,482 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$310.8K
$272.0K – $362.6K
NOI $21,756 @ 7.0% cap · market cap 4.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 14526, NY
20,932
Population
8,231
Households
2.5
Avg Household Size
44
Median Age
62%
College-Educated
97%
High-School Grad
16.4 sq mi
ZIP Area
1,276
Density / Sq Mi
$110,566
Median Household Income
$62,334
Median Earnings
$1,168
Median Rent
$256,600
Median Home Value
Frequently Asked Questions
What type of property is this?
Mixed-use property - Zone B property combines residential space, an in-law apartment, garages, and a rear workshop with multiple potential uses.
Where is this mixed-use property located?
The property is located at 1742 Fairport Nine Mile Point Rd Penfield, NY.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Zone B permits residential and non‑residential uses, subject to town confirmation; In‑law apartment located in the lower level; Rear workshop for 2+ cars with compressor, wood heat, water, and 100 amp service
